Network International acquires 100 percent of DPO Group
The acquisition will allow DPO Group to broaden its online commerce offering through Africa.
Digital commerce enabler Network International has entered into an agreement to acquire online commerce platform DPO Group. Network International will be acquiring 100 percent of DPO Group, which will continue to operate under the existing brand.
According to a statement, the acquisition of DPO Group will support Network International’s capabilities in Africa across online, mobile and alternative payments as well as providing merchant and MNO relationships and increasing the cross-selling opportunities to both DPO and Network International’s customers. It also enables DPO to add point of sale payment solutions to its product portfolio, connecting DPO to acquirers and issuers across the African continent and enabling DPO to penetrate the Middle East market for the first time.
DPO Group CEO Eran Feinstein said:
“This deal represents a significant milestone for the pan-African payments landscape and the customers and businesses we serve. Combining the two companies will allow us to broaden our offering for new and existing customers, significantly improving capacity for Africa’s merchants to do business not only across the continent but in the Middle East as well as globally.”
Network International CEO Simon Haslam said that the acquisition will strengthen the company’s strategic framework by combining both businesses’ activities across the African market. “This deal will also enhance our offering in the payments value chain by presence on both sides of the transaction, acquiring and issuing, and accelerate our future growth. Together, we have a powerful combination to accelerate digital payments across our regions and offer a one-stop shop solution for merchants, with multiple payment acceptance methods.”
DPO Group will retain its executive team and employees, as it continues to expand and will drive the payments agenda of the larger group within the African continent and the Middle East. The acquisition will also see DPO Group’s shareholders and executives become key stakeholders in Network International.